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The inflow of new capital drives a rapid pace in the M&A business

The merger and acquisition activity will continue in the surplus and surplus sector, while new capital will continue to enter the market. Among the most recent deals, Cincinnati-based Core Specialty Insurance Holdings Inc. said in April that it merged with Long Beach, New York-based Lancer Financial Group Inc. in a stock and cash transaction, resulting in a Core Specialty after …

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Vaccine mandate poses risks to employees' pool

Among the limiting factors for employers considering requiring COVID-19 vaccination is attracting and retaining talent and the prospect of employment disputes, experts say. The call for vaccinations for workers after the U.S. Food and Drug Administration's August 23 approval of the Pfizer-BioNTech vaccine came from several federal entities, including President Joe Biden himself, who called on employers to decide whether …

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E&S lines are expected to be strong this year: Fitch

Surpluses and surplus lines are expected to have a strong year 2021 after a challenging year 2020, Fitch Ratings Inc. said in a report on Tuesday. , which reports a combined ratio of 107% compared to the results from 2019, the report says. But with the exception of severe disaster losses, the sector's insurance performance is expected to improve significantly …

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Robinhood shares tumble on PayPal news, SEC review

(Reuters) – Shares in Robinhood Markets Inc., a popular meme stock gateway, plunged nearly 7% on Monday on news that PayPal Holdings Inc. could launch an online broker and a report saying regulators were watching on a possible Prohibition of a practice that accounts for the bulk of the company's revenue. after Gary Gensler, chairman of the US Securities and …

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Robinhood shares tumble on PayPal news, SEC review

(Reuters) – Shares in Robinhood Markets Inc., a popular meme stock gateway, plunged nearly 7% on Monday on news that PayPal Holdings Inc. could launch an online broker and a report saying regulators were watching on a possible Prohibition of a practice that accounts for the bulk of the company's revenue. after Gary Gensler, chairman of the US Securities and …

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The DOJ announces a $ 90 million solution to the False Claims Act

Sutter Health, a health care provider in Sacramento, California and several affiliated entities, has agreed to pay $ 90 million to pay for violations of the False Claims Act by knowingly submitting inaccurate health information to recipients who are registered in Medicare Benefit Plans, the U.S. Department of Justice said on Monday. The settlement is the largest settlement of false …

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SEC fines brokers, investment advisory groups for cybercrime

The US Securities and Exchange Commission said Monday that it has imposed a total fine of $ 750,000 on three broker-dealer / investment advisory groups for cybersecurity policy errors that resulted in email account takeovers revealing personal information about thousands of clients and clients. Eight companies representing three groups were prosecuted by the SEC for violations of federal securities laws …

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The governor nominates the best financial regulator in New York

New York Gov. On Tuesday, Kathy Hochul nominated Adrienne Harris as the next superintendent of the New York State Department of Financial Services. Ms. Harris, if confirmed by the Senate, will be the state's chief financial regulator tasked with overseeing the banking and insurance industry and their compliance with state laws as New York works to rebuild its economy in …

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Appeal court rules for insurers in COVID-19 suit

In what appears to be the third federal appellate court decision in the case, the Eleventh U.S. Circuit Court of Appeals in Atlanta has ruled on dental care in a lawsuit against business interruptions. Monday's Judgment of the 11th United States Circuit in Gilreath Family & Cosmetic Dentistry Inc. v. The Cincinnati Insurance Co. was similar to previous rulings of …

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Ascot Consolidates Reinsurance Business | Business insurance

Ascot Group Ltd. said on Tuesday that they are consolidating their reinsurance business under Ascot Reinsurance. Ascot Re will cover all existing reinsurance products in Ascot's global operations, and coverage will continue to be provided through existing Ascot operating companies including Syndicate 1414 at Lloyd & # 39 ;s of London, Ascot Bermuda Ltd., and various U.S. statutory business. Ascot …

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